SOR stands for the Singapore Swap Offer Rate, while SIBOR stands for the Singapore Interbank Offered Rate. SORA stands for the Singapore Overnight Average.
The Association of Banks in Singapore (ABS) and the steering committee for SOR & SIBOR transition to SORA have finalised the settings of the Monetary Authority of Singapore (MAS) recommended rate (or MRR).
The rate will serve as the contractual fallback reference rate in wholesale SOR contracts after Dec 31, 2024.
